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Stocks Hit an All Time High Before Consolidating

EQUITIES

After a positive open on Wall Street, the S&P500 hit new all time highs, showing above 3870, with real estate and communication services names outperforming. This quickly gave way to consolidation, with markets deciding to trade sideways ahead of the FOMC on Wednesday.

Earnings season continues, with Tuesday's reports including Johnson & Johnson and American Express. Johnson & Johnson traded higher by as much as 3%, whereas the American Express report missed forecast, slipping by 3% to trade among the index's poorest performers.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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